Global Dispatch, July-August 2009

European Commission approves Netherlands' mandatory group interest box regime proposal -- Italy enacts stimulus tax package including exemption for investments in plant and equipment; CFC measures -- European Commission requests Spain amend taxation of capital gains from share exchange by non-EU residents -- EU Commission concerned over Swiss tax proposals for Swiss holding, mixed and domiciliary companies -- Hong Kong to amend legislation to allow OECD-style information exchange -- India releases 2009 Budget -- Japan approves legislation to increase R&D credit, extends carryforward period -- Malaysia liberalizes foreign investment rules -- Singapore implementing OECD tax information exchange standards -- Taiwan reducing corporate tax rate to 20% effective January 2010 -- Taiwan exempting certain income in free trade zones from corporate tax -- New Argentine regulations issued for promotional tax regime -- Mexico moving towards single owner entities; tax ramifications uncertain -- US issues final transfer pricing services regulations -- US clarifies reporting requirement regarding temporary cost sharing arrangement regulations